Shares of multiple bitcoin and cryptocurrency proxy stocks--including Riot Blockchain (RIOT), Long Blockchain Corp. (LBCC), and the Bitcoin Investment Trust (GBTC)--surged on Wednesday, thanks in large part, to a major announcement related to Litecoin.

Litecoin soared more than 30% on Wednesday morning, leading a bullish charge from the world's top cryptocurrencies that has seen the market add nearly $40 billion in total capitalization over the past day alone.